|
Report No. : |
333201 |
|
Report Date : |
25.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNRISE ADVISORY (M) SDN. BHD. |
|
|
|
|
Registered Office : |
Unit 8c, Wisma Ypr, 1, Lorong Kapar, Off Jalan Syed Putra, 8th Floor, 58000 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
29.08.2011 |
|
|
|
|
Com. Reg. No.: |
958979-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the consulting in business management, taxation,
public relations. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself
since the 1970s from a producer of raw materials into an emerging multi-sector
economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve
high-income status by 2020 and to move farther up the value-added production
chain by attracting investments in Islamic finance, high technology industries,
biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a
series of projects and policy measures intended to accelerate the country's
economic growth. The government has also taken steps to liberalize some
services sub-sectors. The NAJIB administration also is continuing efforts to
boost domestic demand and reduce the economy's dependence on exports.
Nevertheless, exports - particularly of electronics, oil and gas, palm oil and
rubber - remain a significant driver of the economy. As an oil and gas
exporter, Malaysia has previously profited from higher world energy prices, although
the rising cost of domestic gasoline and diesel fuel, combined with sustained
budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls,
through initial reductions in energy and sugar subsidies and the announcement
of the 2015 implementation of a 6% goods and services tax. Falling global oil
prices in the second half of 2014 have strained government finances, shrunk
Malaysia’s current account surplus and put downward pressure on the ringgit.
The government is also trying to lessen its dependence on state oil producer
Petronas. The oil and gas sector supplied about 29% of government revenue in
2014. Bank Negara Malaysia (central bank) maintains healthy foreign exchange
reserves, and a well-developed regulatory regime has limited Malaysia's
exposure to riskier financial instruments and the global financial crisis.
Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a
general slowdown in global economic activity because exports are a major
component of GDP. In order to attract increased investment, NAJIB earlier
raised possible revisions to the special economic and social preferences
accorded to ethnic Malays under the New Economic Policy of 1970, but retreated
in 2013 after he encountered significant opposition from Malay nationalists and
other vested interests. In September 2013 NAJIB launched the new Bumiputra
Economic Empowerment Program (BEEP), policies that favor and advance the
economic condition of ethnic Malays. Malaysia is a member of the 12-nation Trans-Pacific
Partnership free trade agreement negotiations and, with the nine other ASEAN
members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
958979-W |
|
COMPANY NAME |
: |
SUNRISE ADVISORY (M) SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
29/08/2011 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
UNIT 8C, WISMA YPR, 1, LORONG KAPAR, OFF JALAN SYED PUTRA, 8TH FLOOR,
58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
UNIT 8C, WISMA YPR, 1, LORONG KAPAR, OFF JALAN SYED PUTRA, 8TH FLOOR,
58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-22607677 |
|
FAX.NO. |
: |
03-22737767 |
|
CONTACT PERSON |
: |
SUBHADRA DEVI A/P GUNASAGARAN ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
70201 |
|
PRINCIPAL ACTIVITY |
: |
CONSULTING IN BUSINESS MANAGEMENT,
TAXATION, PUBLIC RELATIONS |
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 566,115 [2013] |
|
NET WORTH |
: |
MYR 104,099 [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum
of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act, 1965 and the company must file its annual returns, together
with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) consulting in
business management, taxation, public relations.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
27/06/2014 |
MYR 100,000.00 |
MYR 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. SUBHADRA DEVI A/P GUNASAGARAN + |
11A, JALAN ANUGERAH EMPAT, 25/80D, TAMAN SRI MUDA, 40400 SHAH ALAM,
SELANGOR, MALAYSIA. |
791209-08-5898 |
60,000.00 |
60.00 |
|
MR. NISHANTHEN NAIR A/L GUNASAGARAN + |
11A, JALAN ANUGERAH EMPAT 25/80D, TAMAN SRI MUDA, 40400 SHAH ALAM,
SELANGOR, MALAYSIA. |
871025-38-5255 |
40,000.00 |
40.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. NISHANTHEN NAIR A/L GUNASAGARAN |
|
Address |
: |
11A, JALAN ANUGERAH EMPAT 25/80D, TAMAN SRI MUDA, 40400 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
New IC No |
: |
871025-38-5255 |
|
Date of Birth |
: |
25/10/1987 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/08/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. SUBHADRA DEVI A/P GUNASAGARAN |
|
Address |
: |
11A, JALAN ANUGERAH EMPAT, 25/80D, TAMAN SRI MUDA, 40400 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
New IC No |
: |
791209-08-5898 |
|
Date of Birth |
: |
09/12/1979 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/08/2011 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SUBHADRA DEVI A/P GUNASAGARAN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
CH & ASSOCIATES |
|
Auditor' Address |
: |
1-1, SUITE B, JALAN 3/109E, JALAN DESA, DESA BUSINESS PARK, TAMAN
DESA, OFF JALAN KLANG LAMA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. DHATCHAYANI A/P RAMANATHAN |
|
New IC No |
: |
850305-14-6774 |
|
|
Address |
: |
17, JALAN PESONA 25/117A, KEMUNING PESONA, 40400 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject is a service provider.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
CONSULTING IN BUSINESS MANAGEMENT, TAXATION, PUBLIC RELATIONS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) consulting in business
management, taxation, public relations.
The Subject refused to disclose its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
60322607677 |
|
Current Telephone Number |
: |
03-22607677 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
UNIT 8C 8TH FLOOR WISMA YPR NO.1 LORONG KAPAR, OFF JALAN SYED PUTRA
58000 KUALA LUMPUR WILAYAH PERSEKUTUAN |
|
Current Address |
: |
UNIT 8C, WISMA YPR, 1, LORONG KAPAR, OFF JALAN SYED PUTRA, 8TH FLOOR,
58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he only provided limited
information.
She refused to disclose the number of employees and bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
15.49% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
(325.07%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
9.44% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
5.48% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition and the Subject could be gaining the market share progressively.The
management had succeeded in turning the Subject into a profit making company.
The profit could be due to better control of its operating costs and
efficiency in utilising its resources. The unfavourable return on
shareholders' funds could indicate that the Subject was inefficient in
utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
85 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
64 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not
need to keep stocks. The high debtors' ratio could indicate that the Subject was
weak in its credit control. However, the Subject could also giving longer
credit periods to its customers in order to boost its sales or to capture /
retain its market share. The unfavourable creditors' ratio could be due to
the Subject taking advantage of the credit granted by its suppliers. However
this may affect the goodwill between the Subject and its suppliers and the
Subject may inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
2.29 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.29 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
5.28 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.18 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the Subject
is able to generate sufficient income to service its interest and repay the
loans. The Subject was highly geared, thus it had a high financial risk. The
Subject was dependent on loans to finance its business needs. In times of
economic downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and to
repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay. |
||||||
|
Overall Assessment : |
||||||
|
The higher turnover had helped to reduce the Subject's losses. The Subject
was in good liquidity position with its total current liabilities well
covered by its total current assets. With its current net assets, the Subject
should be able to repay its short term obligations. The Subject had an
acceptable interest cover. If there is no sudden sharp increase in interest
rate or fall in the Subject's profit, we do believe the Subject is able to
generate sufficient cash flow to service its interest payment. The Subject's
gearing level was high and its going concern will be in doubt if there is no
injection of additional shareholders' funds in times of economic downturn and
/ or high interest rates. |
||||||
|
Overall financial condition of the Subject : FAIR |
||||||
|
|
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population ( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption ( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment ( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption ( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment ( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
Balance of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation ( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.3 |
4.0 |
|
Unemployment Rate |
3.3 |
3.2 |
3.0 |
3.0 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
3.50 |
2.20 |
- |
- |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
- |
- |
|
Business Loans Disbursed( % ) |
15.3 |
32.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
- |
- |
|
Registration of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
- |
- |
|
Liquidation of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
- |
- |
|
Liquidation of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
- |
- |
|
Registration of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
- |
- |
|
Registration of New Business ( % ) |
5.0 |
14.0 |
2.0 |
- |
- |
|
Business Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
- |
- |
|
Business Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
535.1 |
552.2 |
576.7 |
598.4 |
610.3 |
|
Cellular Phone Subscribers ( Million ) |
35.3 |
38.5 |
43.0 |
43.8 |
- |
|
Tourist Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
- |
- |
|
Credit Cards Spending ( % ) |
15.6 |
12.6 |
- |
- |
- |
|
Bad Cheque Offenders (No.) |
32,627 |
26,982 |
28,876 |
- |
- |
|
Individual Bankruptcy ( No.) |
19,167 |
19,575 |
21,984 |
- |
- |
|
Individual Bankruptcy ( % ) |
5.8 |
2.1 |
12.3 |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Agriculture |
5.8 |
1.0 |
2.1 |
3.8 |
3.1 |
|
Palm Oil |
10.8 |
(0.3) |
2.6 |
6.7 |
- |
|
Rubber |
6.1 |
(7.9) |
(10.1) |
(10.4) |
- |
|
Forestry & Logging |
(7.6) |
(4.5) |
(7.8) |
(4.2) |
- |
|
Fishing |
2.1 |
4.3 |
1.6 |
2.7 |
- |
|
Other Agriculture |
7.1 |
6.4 |
8.2 |
6.2 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
634.1 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
3.2 |
- |
- |
- |
- |
|
Mining |
(5.4) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil & Gas |
(1.7) |
- |
- |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing # |
4.7 |
4.8 |
3.4 |
6.6 |
5.5 |
|
Exported-oriented Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical & Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles & Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food, Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical & Chemical Products |
10.0 |
10.8 |
5.6 |
- |
- |
|
Plastic Products |
3.8 |
- |
- |
- |
- |
|
Iron & Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper & Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude Oil Refineries |
9.3 |
- |
- |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,537.2 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
25.7 |
- |
- |
- |
- |
|
Construction |
4.7 |
18.6 |
10.9 |
12.7 |
10.7 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,856.9 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
10.2 |
- |
- |
- |
- |
|
Services |
7.1 |
6.4 |
5.9 |
5.9 |
5.6 |
|
Electric, Gas & Water |
3.5 |
4.4 |
4.2 |
3.6 |
3.9 |
|
Transport, Storage & Communication |
6.50 |
7.10 |
7.30 |
7.50 |
7.15 |
|
Wholesale, Retail, Hotel & Restaurant |
5.2 |
4.7 |
5.9 |
6.9 |
6.5 |
|
Finance, Insurance & Real Estate |
6.90 |
9.70 |
3.70 |
4.65 |
4.25 |
|
Government Services |
12.4 |
9.4 |
8.3 |
6.1 |
5.6 |
|
Other Services |
5.1 |
3.9 |
5.1 |
4.8 |
4.5 |
|
Industry Non-Performing Loans ( MYR Million ) |
6,825.2 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
23.4 |
- |
- |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production Index |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
70201 : Business management consultancy services |
|
|
INDUSTRY : |
BUSINESS SERVICES |
|
The services sector is expected to continue playing an important role in
driving the Malaysia economy as it will be a major contributor to Malaysia's
GDP with accounting for 55.4% share of GDP in 2015. It is also the biggest
contributor to total employment which is 59.4% in the first half of 2014. |
|
|
In 2014, the services sector is expected to grow by 5.9% and
accounting for 55.3% of GDP, with wholesale trade, transport and storage
benefiting from higher trade-related activities. Meanwhile, activities in
retail-trade, accommodation and restaurants as well as communication are
expected to increase amid sustained household spending. Nonetheless, higher
tourist arrivals, in conjunction with Visit Malaysia Year 2014, will provide
support to growth. In 2015, the services sector will spearhead growth by 5.6%
with all subsectors recording expansion. Growth will be driven by
production-related activities such as wholesale trade, transport and storage
and reinforced by an improving external sector. |
|
|
The wholesale and retail trade as well as accommodation and restaurant
subsectors are expected to grow by 7.1% and 5.9% in 2015 (7.7% and 6.1% in
2014) due to strong domestic consumption and higher tourist arrivals
following the Malaysia Year of Festivals 2015. Besides, the finance and
insurance subsector is expected to sustain growth at 1.4% in 2015 (1.8% in
2014). The finance segment rose only 1.4% during the first half of 2014 due
to the slower growth in net interest and fee-based incomes. Furthermore, the
insurance segment moderated to 1.8% during the first six months of 2014
following the slower performance of life insurance business. |
|
|
Moreover, the real estate and business services as well as the
transport and storage subsectors is expected to grow by 7.1% and 4.7% in 2015
(7.5% and 5.0% in 2014). The real estate and business services subsectors
expanded 8% during the first six months of 2014. During the period, the
business services segment recorded 8.9% growth mainly driven by higher demand
for professional services, particularly engineering services in the
construction sector as well as computer services. |
|
|
Likewise, during the first half of 2014, the communication subsector
grew 10% with the continued increase in the number of cellular phone
subscribers as well as higher use of data services. Growth of the subsector
is expected to sustain at 9.6% in 2015 (10% in 2014) supported by strong
demand for cellular and broadband services, amid attractive promotions by the
telecommunication industry players as well as the launch of new smartphones
and media tablets. |
|
|
However, the utilities subsector is expected to grow at a slower pace
of 3.6% in 2014 on account of lower electricity consumption in the
residential segment following the increase in electricity tariffs in January
2014. The subsector is expected to grow by 3.9% in 2015. Moreover, the other
services subsector is expected to grow 4.5% in 2015 (4.8% in 2014) mainly
driven by high-quality and affordable healthcare as well as an increase in
foreign Muslim patients seeking halal health treatment in Malaysia.
Meanwhile, the government services subsector is estimated to grow 5.6% in
2015 (6.1% in 2014) due to the moderate increase in emoluments as well as
supplies and services. |
|
|
Other than that, the implementation of Business Services NKEA
(National Key Economic Areas) plays a major role in nurturing innovation and
broadening the country's knowledge and skills base by expanding the country's
areas of specialization into new, untapped sectors. It is expected to drive
the service sector as well as Malaysia's economy to grow. As identified under
NKEA, the Entry Point Projects (EPPs) cover maintenance, repair and overhaul
(MRO) services, shared services and outsourcing, data centers, green
technology, pure-play engineering services, and shipbuilding and ship repair.
Through six Entry Point Projects categorized under two key themes of
accelerating the growth of differentiated sectors and developing future
segments, the NKEA is projected to grow the Business Services sector’s
contribution to GNI to RM78.7 billion by 2020 and expected to create 245,000
additional jobs by 2020. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
SUNRISE ADVISORY (M) SDN. BHD. |
|
Financial Year
End |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
MYR |
MYR |
|
TURNOVER |
566,115 |
490,196 |
|
---------------- |
---------------- |
|
|
Total Turnover |
566,115 |
490,196 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
12,885 |
(5,725) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
12,885 |
(5,725) |
|
Taxation |
(3,061) |
- |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
9,824 |
(5,725) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(5,725) |
- |
|
---------------- |
---------------- |
|
|
As restated |
(5,725) |
- |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
4,099 |
(5,725) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
4,099 |
(5,725) |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Hire purchase |
3,011 |
- |
|
---------------- |
---------------- |
|
|
3,011 |
- |
|
|
============= |
- |
|
|
DEPRECIATION (as per notes to P&L) |
18,756 |
1,619 |
|
---------------- |
---------------- |
|
|
18,756 |
1,619 |
|
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
SUNRISE ADVISORY (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
137,834 |
8,635 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
137,834 |
8,635 |
|
Trade debtors |
131,599 |
37,196 |
|
Other debtors, deposits & prepayments |
113,843 |
79,643 |
|
Cash & bank balances |
24,877 |
27,672 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
270,319 |
144,511 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
408,153 |
153,146 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
98,948 |
23,400 |
|
Other creditors & accruals |
4,333 |
2,968 |
|
Hire purchase & lease creditors |
11,953 |
- |
|
Provision for taxation |
2,675 |
- |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
117,909 |
26,368 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
152,410 |
118,143 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
290,244 |
126,778 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
100,000 |
100,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
|
Retained profit/(loss) carried forward |
4,099 |
(5,725) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
4,099 |
(5,725) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
104,099 |
94,275 |
|
Hire purchase creditors |
110,387 |
- |
|
Deferred taxation |
386 |
- |
|
Others |
75,372 |
32,503 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
186,145 |
32,503 |
|
---------------- |
---------------- |
|
|
290,244 |
126,778 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
SUNRISE ADVISORY (M) SDN. BHD. |
|
TYPES OF FUNDS |
||
|
Cash |
24,877 |
27,672 |
|
Net Liquid Funds |
24,877 |
27,672 |
|
Net Liquid Assets |
152,410 |
118,143 |
|
Net Current Assets/(Liabilities) |
152,410 |
118,143 |
|
Net Tangible Assets |
290,244 |
126,778 |
|
Net Monetary Assets |
(33,735) |
85,640 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
15,896 |
(5,725) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
34,652 |
(4,106) |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
122,340 |
0 |
|
Total Liabilities |
304,054 |
58,871 |
|
Total Assets |
408,153 |
153,146 |
|
Net Assets |
290,244 |
126,778 |
|
Net Assets Backing |
104,099 |
94,275 |
|
Shareholders' Funds |
104,099 |
94,275 |
|
Total Share Capital |
100,000 |
100,000 |
|
Total Reserves |
4,099 |
(5,725) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.21 |
1.05 |
|
Liquid Ratio |
2.29 |
5.48 |
|
Current Ratio |
2.29 |
5.48 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
85 |
28 |
|
Creditors Ratio |
64 |
17 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
1.18 |
0 |
|
Liabilities Ratio |
2.92 |
0.62 |
|
Times Interest Earned Ratio |
5.28 |
0 |
|
Assets Backing Ratio |
2.90 |
1.27 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
2.28 |
(1.17) |
|
Net Profit Margin |
1.74 |
(1.17) |
|
Return On Net Assets |
5.48 |
(4.52) |
|
Return On Capital Employed |
5.26 |
(4.52) |
|
Return On Shareholders' Funds/Equity |
9.44 |
(6.07) |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.